Right on the heels of the announcement to cut the price of the Sony PS2 to $99.99, Sony is about to announce the end of the Sony PS3. The reasons for cancelling the PS3 are the current economic crisis that just is not a market for a luxury gaming console. Additionally Sony's ego cannot take more beating by Microsoft’s Xbox 360. This is a drastic move, but there is no alternative solution.

Sony is going to focus all attention now on the Sony PS2, which at the new price point has the potential to even topple the Nintendo Wii as best selling game console.
Current Sony PS3 owners will be able to exchange their Blu-ray studded console for a brand new Sony PS2. With the end of the PS3 it is very likely that the Blu-ray format will also be removed from the market soon.

In case you did not check your calendar yet. It is April 1st. This story is an April Fools' Day Joke, but I somehow feel that there is some truth in there with everybody waiting to see what the next big move from Sony is to bring back the PS3 to at least beat the Xbox 360 in Sales.